Digital Transactions 5/7/13: In mobile payments since early 2011, everything has changed and nothing has changed. That in a nutshell is the conclusion of a paper released this week by the Federal Reserve Banks of Boston and Atlanta, which sponsor an industry group that meets three times a year to hash out issues in mobile payments.
Mobile payments remains a fragmented business with established financial-services players battling it out with startups and telecommunications giants. And progress for near-field communication (NFC), a snazzy, two-way contactless technology that once promised to revolutionize mobile payments, is still coming with painful slowness, according to the paper.
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Source: Paymentspulse